Clinical Trials - Patent Laws

Clinical Trials - Patent Laws

The government of India passed a Patent Law in 1970, recognizing only patents on processes and not products , thus enabling pharmaceutical companies to use alternative methods to produce cheap " generic " copies of drugs patented by other Multinational Pharmaceutical companies . This however resulted in losses of over $500 million for big multinational companies.

After joining with the World Trade Organization in 1995 India made changes in its patent law again and brought it in line with International laws in January 2005. This new bill recognizes both product and process patents. According to the law India will also offer 10-year tax concessions on revenue to companies making Research & Development (R& D) investments in India . These incentives are envisaged to cause a substantial boost and increase in R&D activities of both Multinational and Indian Pharmaceutical companies.

Cite this Article ⇣⇡

Please use one of the following formats to cite this article in your essay, paper or report:

• APA

  Vanessa Jones. (2016, April 22). Clinical Trials - Patent Laws . Medindia. Retrieved on Sep 19, 2024 from https://www.medindia.net/health/treatment/clinical-patent.htm.

• MLA

  Vanessa Jones. "Clinical Trials - Patent Laws ". Medindia. Sep 19, 2024. <https://www.medindia.net/health/treatment/clinical-patent.htm>.

• Chicago

  Vanessa Jones. "Clinical Trials - Patent Laws ". Medindia. https://www.medindia.net/health/treatment/clinical-patent.htm. (accessed Sep 19, 2024).

• Harvard

  Vanessa Jones. 2016. Clinical Trials - Patent Laws . Medindia, viewed Sep 19, 2024, https://www.medindia.net/health/treatment/clinical-patent.htm.